TJX raises global store goal to 7,500 locations

TJX, the Framingham-based parent company of T. J. Maxx, Marshalls, HomeGoods, Homesense, and Sierra, is increasing its long-term global store goal by 500 locations, targeting a total of 7,500 stores worldwide. The company plans to accelerate its store-opening pace by 4% starting in its next fiscal year, following a recent quarter where it reported $15.2 billion in net sales, a 5% increase year-over-year.

Of the approximately 2,200 additional stores expected to open, T. J. Maxx and Marshalls are projected to account for about 300, while HomeGoods is expected to add about 200. CEO Ernie Herman noted that the company sees a long runway for growth.

In other financial news, several institutional investors have made significant moves in various stocks. Fifth Third Bancorp reduced its position in PepsiCo by 3.6% in the second quarter. Blue Owl Capital Holdings LP and Vise Technologies Inc. both acquired new stakes in Capital One Financial Corporation during the second quarter. Additionally, Handelsbanken Fonder AB acquired a new position in Vita Coco Company, Inc., valued at approximately $1.08 million.